Market Prediction
Yesterday's trading, JCI closed up 0.20% to
6,683.15. Foreign market players continued to net
buy of IDR 286.50 billion.
Wall Street's three main indexes closed lower again.
The weakness was due to the inflation data pulling
expectations of interest rate hikes, pushing bond
yields higher and hampering the growth of high
stock valuations.
JCI is likely to weaken due to negative external
sentiment and technically the increase is
approaching the resistance area so that the
movement may fail to breakout.
JCI, which closed higher with a bullish candle. The
stochastic indicator is bullish, MACD histogram is
moving in a positive direction (sloping line) and
volume is falling. If JCI moves bearish, JCI can first
go down to support at the range of 6.637 – 6.651. If
JCI is bullish again, there is a chance to further
strengthen the resistance levels at 6.693 - 6745.
Commodities Review
- Global crude oil prices moved in the red
zone waiting for the US Government to
decide whether to release its emergency
oil reserves or not.
Macro Economic News
- China's annual inflation rate accelerated
sharply to 1.5% in October 2021 from 0.7%
a month earlier, above market consensus
of 1.4%.
- The annual inflation rate in the US surged
to 6.2% in October of 2021, the highest
since November of 1990 and above
forecasts of 5.8%.
- The number of Americans filing new claims
for unemployment benefits decreased
further to 267 thousand in the week
ending November 6th, from an upwardly
revised 271 thousand in the previous
period and just above market expectations
of 265 thousand.
Corporate news
- PT Mitra Adiperkasa Tbk (MAPI) from January-September 2021 which recorded revenue growth of
18.3% yoy to IDR 12.1 trillion compared to the same period the previous year. Along with that, MAPI
managed to cut its net loss by 82.92% to IDR 114.8 billion in the third quarter of 2021.
- PT Timah (TINS) recorded revenues of IDR 9.69 trillion as of September 2021. It was down 18.72 percent
from the same period last year of IDR 11.93 trillion. However, TINS was able to record a net profit of IDR
611.98 billion, aka a 340 percent jump or reverse from the same period last year with a net loss of IDR
255.15 billion.
- PT Madusari Murni Indah Tbk (MOLI) recorded an increase until the third quarter of 2021 which posted
a net income of IDR 1.19 trillion. That's an increase of 13.84 percent from the third quarter/2020 of IDR
1.04 trillion.
- PT Transcoal Pacific Tbk (TCPI) through its subsidiary PT Energy Transporter Indonesia (ETI), has won a
contract worth IDR 202 billion. The contract that was approved was the provision of coal transportation
services obtained from one of the largest coal mining companies in Kalim,
PT Kiwoom Sekuritas Indonesia (KSI)
Treasury Tower 27th Floor Unit A, District 8 Kawasan SCBD Lot 28
Jl.Jend.Sudirman Kav 52-53, Jakarta Selatan 12190
Telp : +62 21 5010 5800
Fax. +62 21 5010 5820
Website : www.kiwoom.co.id
